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How Do I Discover the Value of My Old Coins?

From flying eagles to walking Liberty to capped bust designs, the U.S. Mint has issued a plethora of coins over the years in the various American monetary denominations. Numismatists, or coin collectors, prize older coins above others depending on factors such as scarcity, beauty, condition and metal content. If you have a budding collection, it's a relatively simple process to determine the value of your coins.

Instructions

- 1
  Find a reputable price guide. "Whitman's Red Book" is practically the coin Bible for numismatists with listings for every American issue with color photos and examples of rare error coins. A top choice online is BestCoin.com, which has hundreds of thousands of listings.
- 2
  Determine the grade of the coin. Prices vary greatly depending on the condition of the coin. Common grades run from good (G-4) and fair (F-12) to hard-to-find about uncirculated (AU-50) and uncirculated (MS-60). Generally, a coin must be almost perfect with no wear and a great shine to rate on the high end of the scale. Coins featuring plenty of wear and contact marks usually grade toward the low end of the rating system.
- 3
  Inspect the coin for errors. You might be pleasantly surprised to find that your coin is actually a rare issue. Some copies of the common 1982 dime, for example, carry no mint mark. This scarce error can fetch a couple of hundred dollars, as of 2010. Consult your price guide when checking your coins for errors.
- 4
  Research how the composition of a coin can greatly affect its value. Gold coins (most of which actually contain 90 percent gold and 10 percent copper) are both extremely rare and extremely valuable because of the price of gold (which greatly fluctuates.) Silver coins also bring premiums over coins made of other metals. Check your Kennedy half dollars because many of the issues from 1964 to 1970 that were partially made from silver still turn up in circulation from time to time.

Coin Collecting